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30/07/2002
Commons Committee calls for banking probe
A House of Commons Treasury Committee has hit out at the UK banks over the difficulty consumers have in understanding credit card interest rate charges.
MPs urged an official probe into the small business market after a Cambridge University mathematics professor, who was asked to investigate one deal, took most of an afternoon to calculate the annual interest rate.
The all-party committee also called for action to be taken in the banking market for smaller companies, over fears that the 'Big Four' UK banks, Barclays, Lloyds TSB, HSBC and Royal Bank of Scotland, operated a joint monopoly.
The committee said it was also concerned that comprehending deals required "an unreasonable amount of time and effort".
The Competition Commission last year warned of a "complex monopoly" operated by the 'Big Four'.
(MB)
MPs urged an official probe into the small business market after a Cambridge University mathematics professor, who was asked to investigate one deal, took most of an afternoon to calculate the annual interest rate.
The all-party committee also called for action to be taken in the banking market for smaller companies, over fears that the 'Big Four' UK banks, Barclays, Lloyds TSB, HSBC and Royal Bank of Scotland, operated a joint monopoly.
The committee said it was also concerned that comprehending deals required "an unreasonable amount of time and effort".
The Competition Commission last year warned of a "complex monopoly" operated by the 'Big Four'.
(MB)
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02 May 2012
McGlone Raises Banking Issue With Influential Oireachtas Committee
SDLP Economy spokesperson Patsy McGlone has said banks must work better with small businesses in assisting lending if our economy is to be reinvigorated. The Mid Ulster MLA was speaking after a meeting with the Joint Oireachtas Committee on Jobs, Enterprise and Innovation, whereby he pressed TDs to also raise the issue with Southern banks.
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SDLP Economy spokesperson Patsy McGlone has said banks must work better with small businesses in assisting lending if our economy is to be reinvigorated. The Mid Ulster MLA was speaking after a meeting with the Joint Oireachtas Committee on Jobs, Enterprise and Innovation, whereby he pressed TDs to also raise the issue with Southern banks.
26 August 2010
NAMA Applauded At Stormont
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24 January 2012
Businesses Enter Ulster Bank Awards
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07 October 2011
Bank Of England Bolsters Economy
The UK's central banking organisation, the Bank of England is to inject a further £75bn into the economy through a process known as quantitative easing (QE).
Bank Of England Bolsters Economy
The UK's central banking organisation, the Bank of England is to inject a further £75bn into the economy through a process known as quantitative easing (QE).
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